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warning those workers. here's the federal law and what it says. it says that companies with 100 or more workers must provide 60 days notice before mass layoffs or plant closings, or those workers can get up to 60 days of back pay if they are not notified. the republicans are crying foul and eamon javers picks under the story. >> reporter: here's what the omb said in late september -- it is neither necessary or appropriate for federal contractors to provide warn act notice to employees 60 days in advance of the potential sequestration because of the uncertainty about whether sequestration will occur. i've toualked to employees at t white house and omb about this question. their idea is this -- first of all, there's uncertainty about the fiscal cliff itself, whether it is actually going to happen or not. they say that the warn act is only required for those planning specific cutbacks and specific plant closings and they say since the employers in this case federal contractors don't know that sequestration is going to happen, therefore they don't have any specific information. and also the
or fast and furious, but they found more stuff that he's done under the law to maximize profits and minimize taxes. they got him ted dead to rights again. i don't know if any american cares. do you remember how the kennedys made their money? >> i think there was some boot legging. >> might have been a little boot legging. john kerry married and then left his yacht in providence or something, didn't he. and then john edwards flipping his magnetic business card at all the ambulances going by made $80 million. it's weird, isn't it? >> he was a good lawyer. >> and a hell of a human being, too, johnny. we have ten seconds. >> i don't think additional incremental disclosures about offshore investments will make a big deal. >> all right, my friend, thank you. >>> when we come back, we'll get to kevin ferry from the cme, we'll find out what's most likely to drive action on the second day of the quarter. smart comes with 8 airbags, 3 a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. monarch of
.s. laws. it is likely to become fodder for the u.s. presidential campaign, and there was a big piece -- >> on "60 minutes" and "wall street journal" and chavez won. >> apparently this is just a rumor, the bls the entire of bureau labor statistics from here was flown down to venezuela to monitor the election. >> the chicago guys were thrown down. >> ba-dum-boom. let's get to the story, the venezuelan president hugo chavez as joe was just saying -- >> 54-45. >> comfortable election victory that could extend his rule to 20 years. the next election isn't officially for six years but you had tens of thousands of ecstatic supporters flooding the streets around the presidential palace in downtown caracas, pumped their fists in the air and started shouting chavez's name. enrique capriles, he was beat by more than nine points. it will extend a wave of nationalizations and continue his support for left wing allies. we've heard how important this is for cuba, he has billions at his fingertips because of the oil produced there. this is the country we think has the biggest oil reserves in the wor
of america decided to take the money. then they had to go to an equity law firm. this is encouraging to me. i would think this actual bailout is one that says, we are now past, the pig is much further along. you don't want a python swallowing a pig, but it's going to follow it when it is finished. >> words to live by, jim. words to live by. >> i think about that often, actually. >> we just listened to an incredible hour of television on "squawk box" with zell talking about what he's seen in the economy, talking more about corporate i.t. upgrade cycles. here's what zell said not too long ago. >> nobody wants to make commitment to be on tomorrow. we run a company that does a lot of corporate enterprising installations. and one of their triggers is when the enterprise projects start getting delayed, we are heading for a recession. and that's exactly what you're looking at right now. >> when the enterprise project starts getting delayed, we are heading for a recession. that collides with the calls we are seeing regarding cisco right now. jim, channel checks going on? >> cisco, morgan stanley put
, president obama's done a much better job in enforcing the trade laws than we've ever seen before. he's pushed china. he just won three cases. he won a case on pipe to put thousands of people back to work. he won a case of tires that put people back to work. and he just filed one on auto parts. look, mitt romney's talk is cheap. he'll go back to this -- he's working on currency. we're all working on currency. mitt romney will go back to the same paradigm that we had before. signing agreements that are good for wall street but not good for main street. >> even though this tax increase that we're about to see is going to increase taxes for anybody making more than $250,000. >> which tax increases you talking about? >> the fiscal cliff issue as we see the tax cuts expire at year end. >> well, the president said he wants to continue those tax breaks for people earning less than $250,000. it's the republicans that say no, we won't give anybody anything unless the millionaires and billionaires get their tax cut too. they don't need -- they need to pay their fair share. and we -- >> thanks,
in a nutshell was allowing the banks to abuse certain laws in order to put in the books some interesting income actually as dividends. so they were paying less taxes. this is again manipulating somehow the laws. now the bank unicredit has actually plea bargained and has paid 265 million euros. the fraud was for 245 million is what these defendants are being accused of. and the bank did it not because they admit to wrongdoing, but because they did say that was just going to be a very long and drawn out case that they didn't want to have to deal with. on so now these defendants, 19 plus profumo. he says there was no wrongdoing and he's waiting with confidence that the justice system takes its course. note just in a few days, he is expected to take on more responsibilities at his new job which is chairman at italy's oldest and most troubled bank. he will expand his duties so he's being closely watched right now. back to you. >> all right. that's the late he is out of the trial in milan. we'll take a short break. still to come, american golfers feeling a little blue after the european stage an amaz
. the current law doesn't do very much explicitly about health care costs. eventually somebody will have to reduce the volume of services or reduce the price of services. >> so what are you telling investors, buy hospital stocks, don't buy hospital stocks, by the good ones? how do the insurance companies fair? >> insurance companies win almost no matter what happens. so that's fine. >> there's medicaid advantage. >> right, medicaid, medicare. >> is there a head k medicaid advantage? >> medicaid hmos lose it if obamacare gets repealed because they're going to expand medicaid, as well. >> expand it greatly. and it's not block grants. a federal expansion. so what's your favorite stocks? >> my favorite stocks are the ones that are not that impacted by federal policy. united health, intuitive surgical. genetic analysis companies do well. but not completely unrelated to reform. and you can always go outside the u.s., too, if you want. so i guess you're not moving to france if about obama wins. >> alec baldwin didn't move, i'm not moving. we say things when we're upset and then we don't really
of the world. because people want to believe. people want to believe in the rule of law for business. there was a great hope in many of the same 200 business people would say something and he didn't. and people want to hear something that there are changes of a foot. >> which brings us back to that point and whether we'll get anything more this afternoon. >> well, jim is absolutely right. trading at almost 50% it is count to a country like brazil. there is substantial it is count that is the intrinic rush of russia. one of the steps that the government is taking is to really be more open, more transparent. this event with direct access to the heads of the government and there are also several key ministers joining us. it's a way to try to convince capital that of course there are some concerns, but there is also great opportunity for business in russia. conditions and valuations are extremely attractive compared to other bric countries. >> ricardo, thanks for that. jim, thank you, as well. >> thanks for having me on. >> jim o'neill. as far as european stocks are concerned, after good
had been demonstrating against eu laws. he stood on one of the window lenls for more than 24 hours. he was complaining against an eu directive which would reform rules to licenses. operators have said the new rules threaten the jobs of some 600,000 resort workers. still to come, we talk shopping ahead of september retail sales data with a guest who says thrift may be the new bling. >>> european markets are trading town. we did see the green at the start of the show, but no longer the ftse down. same for the dax and cac. ibex held unreasonably well but also trading lower now. in the state, futures indicating a positive start to trade. just a few points higher for the s&p and nasdaq, the dow could open up by 30 points or so when trade gets under way there. on the agenda today in the u.s., weekly jobless claims out at 8:30 eastern, forecast to rise by 10,000. 10:00 a.m. brings august factor orders. expected to drop by 6%. at 2:00 the minutes from last month's fed meeting will be released. james bullard is in memphis, tennessee speaking about the economy and monetary policy. that's at 7:45
violated some laws. how important is this, dave? >> it's important. chairman rogers was an important component of the piece we did early this month that was on chinese cyber espionage. it focused on huawei. a company discovered the chinese were in their system, nortel. they went out of business. some claim it's because of huawei. chairman rogers is trying to raise the alarm on this. i can only tell you from firsthand experience, so many ceos of fortunate 500 companies who would not come on the program that we did a number of months ago because they fear for their business in china have admitted to me face to face that their firewalls had been breached by the chinese, that they'd been informed of that by the fbi. and so by doing this, chairman rogers simply is able to raise a larger awareness of it. as for the huawei allegation, we'll see. we haven't seen the report yet and the specifics. >> the reason why the issue has been treated with -- this has been going on over the course of a decade at least. it's not just in technology. it's in other areas of business where intellectual prope
Search Results 0 to 9 of about 10